Alternative Investments

Investments in alternative investments are speculative and include a high degree of risk. Investors could lose their entire investment. Past results are not indicative of future performance. Alternative investments are suitable only for persons who are able to assume the risk of losing their entire investment. Alternative investments often engage in leveraging and other speculative investment practices that may increase the risk of investment loss; can be highly illiquid; may have restrictions on transferring interests; may have no secondary market nor is one expected to develop; are not required to provide periodic pricing or valuation information to investors; may involve complex tax structures and delays in distributing important tax information; are not subject to the same regulatory requirements as mutual funds or other investment vehicles; can have volatile performance; may have higher fees than other investment vehicles, and these fees can offset profits. Alternative investment managers have total trading authority over their funds. Prospective investors should carefully consider these risks before investing.